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Are Tenant-Stockholders Entitled To A Charitable Contribution Deduction When A Cooperative Housing Corporation Donates A Preservation Easement?, Martha W. Jordan

Martha W. Jordan

Are Tenant-Stockholders Entitled to a Charitable Contribution Deduction when a Cooperative Housing Corporation Donates a Preservation Easement?

Abstract

Most Tenant-Stockholders of cooperative housing corporations (“CHC”) view themselves as the owners of their apartments, a perception encouraged by the Internal Revenue Code (“Code”), which affords them those tax benefits most commonly associated with home ownership. This article explores the question of whether that perception is accurate with respect to the Code’s tax incentives designed to encourage preservation of historic homes. The Code encourages homeowners to protect their historic homes with preservation easements by allowing a charitable contribution deduction equal to the …